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Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

Cyprus Industrial Production Advances Amid Diversified Sector Growth In 2025

Cyprus’ Industrial Production Index rose to 113.0 points in December 2025, marking a 3.5% increase compared with the same month a year earlier, according to data from the Cyprus Statistical Service. The figures suggest continued industrial momentum as the country’s production base expands across several manufacturing segments.

Overview Of Economic Momentum

Based on the 2021 reference value of 100 points, industrial output maintained an upward trend throughout 2025. For the full year, production increased by 3.6%, reflecting steady growth supported by manufacturing activity and ongoing industrial investment.

Sector Analysis: Winners And Losers

Manufacturing remained the main driver of growth, expanding by 4.6% in December. Water supply and materials recovery also contributed, rising by 3.2%.

Other sectors showed weaker performance. Electricity supply declined by 2.4% compared with December 2024, while mining and quarrying fell by 1.7%, highlighting uneven performance across the industrial landscape.

In-Depth Manufacturing Performance

Within manufacturing, furniture production and related activities, including machinery repair and installation, recorded one of the strongest gains, rising 13.8% year over year.

Wood and cork products, excluding furniture, increased by 11.9%, while machinery, motor vehicles, and transport equipment production rose by 8.1%.

Annual Trends And Segment Challenges

For the full year, the manufacture of other non-metallic mineral products posted the strongest growth, rising 10.9% compared with 2024. Wood and cork products grew by 9.1%, while basic metals and fabricated metal products increased by 8%.

Furniture-related activities expanded by 7.2%. At the same time, paper products and printing declined by 9.5%, while textiles, apparel, and leather products fell by 3.8%. Electricity supply recorded a full-year decline of 2%, underscoring differences in sector performance.

Outlook

The latest data points to continued growth in Cyprus’ industrial sector, led primarily by manufacturing. At the same time, weaker performance in energy and selected manufacturing segments highlights areas where productivity and investment strategies may shape future industrial performance.

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